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Morecambe FC post £794,000 loss

Globe Arena. Morecambe FC.

Globe Arena. Morecambe FC.

Morecambe FC made a loss of nearly £794,000 last season.

The £793,776 deficit for the year ending June 2013 is up from £555,376 for the previous 12 months according to the club’s latest accounts.

According to the report the Shrimps are becoming increasingly reliant on loans from directors, principally chairman and majority shareholder Peter McGuigan, to maintain cashflow.

It also states that the board carried out a strategic review of the club in April 2013 and set out a three-year plan which aims to see the Shrimps “at least in a break even position by the end of year three”.

This would be achieved by a “significant reduction in costs” and where possible, maximising revenue streams.

Income was down to £2,642,982 compared with £2,761,851 in 2012.

In a bid to cut costs there was also a significant reduction in staff and player wages from £1,888,190 in 2012 to £1,814,143 12 months later.

The figures give a clear indication as to why manager Jim Bentley has seen his playing budget significantly reduced for each of his three seasons in charge.

 

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